Welsh mortgage


Also found in: Legal.
(O. Eng. Law) a species of mortgage, being a conveyance of an estate, redeemable at any time on payment of the principal, with an understanding that the profits in the mean time shall be received by the mortgagee without account, in satisfaction of interest.
- Fairholt.

See also: Welsh

References in periodicals archive ?
WELSH mortgage seekers have benefited indirectly from the Funding for Lending (FLS) scheme over the past year - but they would not have known about it.
A FLAGSHIP Welsh mortgage guarantee scheme has been axed after its backers withdrew support - just a month after the Welsh Government set its launch date.
"Overall, the Welsh mortgage market is in tune with the UK as a whole: stable, but still facing challenging conditions from a variety of factors."
But Welsh mortgage payers are suffering the same pain as their counterparts in England.
The announcement in the Budget that the UK Government would roll out a PS130bn Help-to-Buy mortgage guarantee scheme to help UK buyers get onto the housing ladder from next year torpedoed the Welsh mortgage guarantee scheme, with Mr Sargeant saying in a statement to AMs that the announcement meant the Welsh scheme would not be taken forward "as originally envisaged".
This included a Welsh mortgage guarantee scheme to support housebuilders and help first time buyers and an energy efficiency scheme for an extra 1000 homes.
THEY made the news last month for the launch of their innovative Welsh mortgage product range designed for first-time buyers.
Latest Welsh mortgage figures are encouraging for those looking to step up to a bigger home
That is why I will be announcing additional resources later today to expand our empty properties initiative; deliver a Welsh Housing Bond; extend the Welsh Housing Partnership; and develop a Welsh mortgage guarantee scheme."
Welsh mortgage holders currently pay less of their income towards their mortgage payment than the rest of the UK, according to the Council of Mortgage lenders, so it is a possibility that a mortgage may work out cheaper than facing spiralling rental costs.
"The overall picture for the Welsh mortgage market remains consistent with the UK as a whole with the country still facing a unique set of challenges from so many different fronts."
A total of 61% of Welsh mortgage holders suggest they are worried about the prospect of increased SVRs (stand variable rates) from lenders.
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